Define treasury stock. How many shares of common stock are outstanding? What is the difference between authorized stock and stock that is issued and outstanding? Why is this distinction between authorized and issued/outstanding stock important? Assuming there is a stated value, what is the stated value of the common stock? How did you calculate the value for the stated value of common stock? What is the par value of the preferred stock? How did you calculate the value for the par value of preferred stock? If the annual dividend on preferred stock is $36, 000, what is the dividend rate on preferred stock? How did you calculate the dividend rate on preferred stock? What does it mean to have dividends in arrears on preferred stock? Why are dividends in arrears important to investors? If dividends of $72, 000 were in arrears on preferred stock, what would be the balance reported for retained earnings? How did you calculate the balance of retained earnings if preferred stock dividends were in arrears for $72, 000? What did you learn from preparing this assignment? Summary Define treasury stock. How many shares of common stock are outstanding? What is the difference between authorized stock and stock that is issued and outstanding? Why is this distinction between authorized and issued/outstanding stock important? Assuming there is a stated value, what is the stated value of the common stock? How did you calculate the value for the stated value of common stock? What is the par value of the preferred stock? How did you calculate the value for the par value of preferred stock? If the annual dividend on preferred stock is $36, 000, what is the dividend rate on preferred stock? How did you calculate the dividend rate on preferred stock? What does it mean to have dividends in arrears on preferred stock? Why are dividends in arrears important to investors? If dividends of $72, 000 were in arrears on preferred stock, what would be the balance reported for retained earnings? How did you calculate the balance of retained earnings if preferred stock dividends were in arrears for $72, 000? What did you learn from preparing this assignment? Summary